* ^ 


Uoiv.of  Ji|,  library 

54 

H-%5 


— *** 


LIBRARY 
. OF  THE 

- UNIVERSITY  OF  ILLINO1" 


MINING  COMPANY, 

Of  Leadville,  Lake  County, 


THE 

Bald  Mountain  Mining  Company 

(Of  Leadville,  Lake  County,  Colorado.) 

LIBRARY 

OF  THE 

UNIVERSITY  OF  ILLINOIS 

CAPITAL  STOCK,  $10, 000,000. 


1,000,000  SHARES-PAR  VALUE,  $10.00  EACH. 


Office  of  the  Company,  21  Nassau  Street,  Rooms  22  and  24. 


NEW  YORK. 

ARTHUR  & B O N N E L L , STATIONERS* 
57  Liberty  Street. 


THE 

BALD  MOUNTAIN  MINING  COMPANY, 

LEADVILLE,  LAKE  COUNTY,  COLORADO. 


Incorporated  November  8, 1879,  under  the  General  Laws  of  the  State 

of  New  York. 


President, 

J.  E.  PEYTON. 

Treasurer, 

EDWARD  P.  COE. 

Secretary, 

CHARLES  WENDELL. 

Trustees, 

J.  E.  Peyton,  Hacldonfield,  N.  J.  Wm.  G.  Vermilye,  N.  Y. 
James  Havemeyer,  N.  Y.  J.  S.  Andrews,  N.  Y. 

Edward  P.  Coe,  N.  Y.  Andrew  Mitchell,  N . Y . 

Charles  A.  Sherman,  N.  Y.  F.  A.  Fane,  N.  Y. 

T.  W.  Mofeat,  Denver,  Col. 

Manager  and  Mining  Engineer  in  Colorado, 

H.  B.  BEARCE. 

Office  of  the  Company, 

21  Nassau  St.,  New  York. 

Bankers  in  Colorado, 

FIRST  NATIONAL  BANK,  DENVER. 

Bankers  in  New  York. 

MECHANICS’  NATIONAL  BANK. 

Registrar  of  Transfers  in  New  York. 

CENTRAL  TRUST  COMPANY. 

Attorneys  and  Counsel, 

WARD  & JENKS,  New  York. 

B.  M.  HUGHES,  Denver,  Col. 

S.  P.  ROSE,  Leadville. 


! 008087 


FANNY  BARRETT. 


RED  LION  LODE. 


U PPER. 

BELLA  D. 

G.W.KASSLEN. 

CLAYTON. 

PHILLIPS^ 

CHEESMAN. 

HALLACK. 

COLORADO. 


Jiur&U'>iu,tf]l,37  Liberty  S;\f  . ' 


THE 


Bald  Mountain  Mining  Company. 


PRO  SPECTUS. 

The  property  of  the  Company  consists  of  the  following 
well  defined  mines  : 

HERCULES, 

HAZARD, 

UPPER, 

BELLA  D., 

G.  W.  KASSLEN, 

CLAYTON, 

CHEESMAN, 

HALLACK. 


The  “ HERCULES”  and  “HAZARD.” 

These  two  mines  are  a part  of  a group  of  mines  located  on 
Fryer  Hill,  a spur  of  Bald  Mountain,  a district  well  known 
for  its  rich  silver  and  other  mineral  deposits. 

The  developments  made,  through  the  shafts  sunk  at  the 
various  points  on  the  property,  indicate  the  same  rich  quality 


6 


and  quantity  of  ores  discovered  in,  and  now  being  taken  from 
the  mines,  operated  in  the  immediate  vicinity,  viz.  : 

THE  LITTLE  PITTSBURG  CONSOLIDATED, 

CARBONIFEROUS, 

LITTLE  CHIEF, 

CRYSOLITE, 

LITTLE  EVA, 

AMIE, 

CLIMAX, 

DUNCAN, 

MATCHLESS, 

ROBERT  E.  LEE, 

and  many  others  ; all  of  which  are  producing  large  quanti- 
ties of  paying  ores. 

There  can  be  no  doubt  that  the  Hercules  and  Hazard 
when  fully  developed,  will  be  found  to  pay  as  large  dividends 
as  any  of  the  adjacent  mines  (which  range  from  $50,000  to 
$200,000  per  month). 

This  opinion  is  confirmed  by  the  location  of  the  property 
and  through  the  work  done  and  being  prosecuted,  as  will  be 
seen  by  accompanying  maps  and  the  statements  contained 
in  the  subjoined  report  of  H.  B.  Bearce,  Mining  Engineer, 
and  letter  of  E.  H.  Moffat,  Jr.,  Vice-President  of  the  Little 
Pittsburg  Consolidated  Mining  Company  (the  former  the 
Consulting  Engineer  of  this  Company). 


Leadville,  Col.,  Oct.  13,  1879. 

Col.  J.  E.  Peyton,  New  York. 

Dear  Sir:  I have  made  as  careful  examination  as  possible 
of  the  HAZARD  and  HERCULES  lodes,  situated  on  Fryer 
Hill.  The  location  is  a fortunate  one,  it  being  on  the  north 
end  of  the  LITTLE  CHIEF,  and  east  line  of  the  CARBO- 
NIFEROUS MINE,  and  in  the  immediate  vicinity  of  the 


7 


LITTLE  PITTSBURG,  CHRYSOLITE,  DIVES,  WIN- 
NEMUCK  and  NEW  DISCOVERY  Mines.  (See  map.) 

The  location  makes  the  ground  valuable,  without  taking 
into  consideration  the  development  that  has  been  made. 
There  is  on  the  HAZARD  a well  timbered  shaft  140  feet 
deep.  At  a depth  of  81  feet  iron  was  struck  carrying  silver, 
and  occasionally  small  pockets  of  galena  and  carbonates,  but 
not  in  quantity  sufficient  to  pay.  Assays  through  this  iron, 
which  was  28  feet  thick,  run  from  16  to  84  ounces  silver  per 
ton.  At  this  point,  81  feet  from  the  surface,  a small  drift 
was  run  south  20  deg.  Ea.  24  feet.  From  some  reason  that 
I cannot  explain  this  drift  was  run  on  top  of  the  iron  in  the 
wash  and  drift,  and  of  course  produced  nothing.  Under  the 
iron  lay  10  feet  of  sand  carbonates,  low  grade,  only  assaying 
8 to  36  ounces.  From  this  point  the  shaft  was  sunk  through 
clay  and  porphyry  49  feet,  until  water  stopped  them,  they 
only  using  a windlass  to  hoist  with.  A drift  has  also  been, 
run  at  a depth  of  105  feet  from  the  surface,  north  25  deg.  Ea. 
35  feet.  This  drift  is  mostly  in  iron,  with  occasional  small 
pockets  of  high  grade  ore,  assaying  from  84  to  796  ounces 
silver  per  ton.  A winze  was  sunk  at  the  end  of  this  drift  16 
feet  deep,  and  the  same  body  of  sand-carbonates  was  struck 
as  in  main  shaft,  where  also  a drift  was  started  and  run  a 
short  distance,  but  it  was  too  wet  for  examination. 

THE  DISCOVERY  SHAFT- 

This  shaft  is  176  feet  from  the  working  shaft.  At  this 
shaft  they  struck  iron  and  water  at  a depth  of  60  feet,  drilled 
through  13 J feet  of  iron,  averaging  assays  60  ounces  silver  ; 
also  5 feet  of  sand  carbonate,  that  assayed  105  ounces.  This 
shaft  was  stopped,  evidently  for  the  lack  of  means  to  buy  an 
engine  and  pump. 

The  HERCULES  shaft  is  down  130  feet,  is  located  in  a 


8 


south-easterly  direction  from  the  HAZARD  working  shaft 
about  75  feet,  and  near  the  end  line  of  the  LITTLE  CHIEF. 
With  the  exception  of  drifts  on  the  HAZARD,  a description 
of  the  HERCULES  would  he  a repetition,  as  they  pass 
through  the  same  formation  generally,  the  iron,  perhaps, 
carrying  more  pay  ore  than  the  HAZARD.  In  my  judg- 
ment, with  the  exception  of  the  shafts  that  have  been  sunk, 
the  exploration  made  amounts  to  but  little  in  a systematic 
development  of  the  ground.  They  do  prove,  however, 
there  is  mineral  the  same  as  found  in  all  the  other  mines  on 
the  hill,  underlying  all  of  the  ground  covered  by  these  shafts, 
but  as  to  its  richness  or  extent,  they  prove  nothing. 

I see  nothing  to  condemn  the  mines  in  the  fact  that  no 
large  bodies  of  rich  mineral  have  been  struck  with  the 
present  developeraent ; but  the  fact  that  such  large  bodies  of 
mineral  have  been  found,  with  the  limited  exploration  yet 
made,  induces  me  to  believe  that  a proper  exploration  of  the 
ground  will  develop  bodies  of  rich  ore,  the  same  as  found  in 
the  adjoining  mines.  I am  familiar  with  the  underground 
workings  of  all  the  mines  of  importance  on  the  hill,  and  in 
all  of  them  there  are  many  places  where  shafts  could  have 
been  sunk  with  like  or  worse  results,  while  proper  explora- 
tions have  developed  bodies  of  ore  of  great  value  in  their  im- 
mediate vicinity.  In  short,  it  h possible,  but  hardly  proba- 
ble, that  with  the  immense  bodies  of  ore  exposed  in  the 
LITTLE  CHIEF  and  the  other  mines  in  the  group  that 
have  been  developed,  that  the  ore  deposit  stops  at  the  line  of 
HAZARD  and  HERCULES. 

I believe  that  with  a reasonable  supply  of  brains  and.  ex- 
perience, helped  with  the  necessary  machinery  and,  means, 
success  is  certain. 

Yours  respectfully, 

H.  B.  Bearce. 


9 


Office  Little  Pittsburg  Consolidated  Mining  Company,  ) 
113  and  115  Broadway,  New  York,  Oct.  22,  18r»9.  \ 

Fred’k  A.  Fane,  Esq, 

My  Dear  Sir  : In  regard  to  the  Mines,  HERCULES  and 
HAZARD,  situated  upon  Fryer’s  Hill,  Leadville,  Colorado, 
which  you  have  purchased,  I can  say  they  are  surrounded 
by  the  celebrated  mines  CARBONIFEROUS,  LITTLE 
CHIEF,  and  0.  K.  Also  amidst  many  other  valuable 
mines,  namely,  LITTLE  PITTSBURG  MINING  COM- 
PANY’S mines,  and  others  which  are  paying  largely  to- 
day. 

The  property  being  so  favorably  situated,  1 can  most  cheer- 
fully endorse  it  as  very  promising,  and  have  no  doubt  of  its 
proving  successful. 

Yours  truly, 

David  H.  Moffat,  Jr. 

Gentlemen  connected  with  the  Bald  Mountain  Mining 
Company,  who  have  recently  visited  Leadville  and  vicinity, 
for  the  purpose  of  making  a careful  examination  of  the 
mineral  deposits  of  that  section,  fully  concur  in  the  state- 
ments made  by  Messrs.  Dodge,  Potter  A Co.,  as  given  in  the 
Prospectus  of  the  Little  Pittsburg  Consolidated  Mining 
Company,  as  follows: 

“ These  mines  were  discovered  and  located  in  May,  1878, 
and  from  August  last  to  the  present  date  have  yielded  to 
the  owners  about  $1,600,000. 

“As  the  contiguous  properties  are  all  producing  rich  ore  in 
large  quantities , it  is  fair  to  calculate  for  at  least  a propor- 
tion of  the  remaining  ninety-five  per  cent . of  the  company’s 
teritory  coming  fully  up  to  that  ivhich  has  been  opened. 

“ Much  has  been  said  and  written  by  parties  interested 
in  other  localities  against  the  durability  and  permanence 


10 


of  these  mineral  deposits.  In  reply  we  have  only  to  say 
that  each  day’s  work  strengthens  our  claim  that  these  im- 
mense ore  beds  are  capable  of  paying  dividends  for  many 
years  to  come,  and  to  this  we  have  the  united  testimony  of 
many  eminent  mining  engineers  and  experts,  who  have  been 
furnished  every  facility  for  making  a complete  and  compre- 
hensive examination  of  the  property.” 

LOVELAND  HILL  MINES. 

The  property  of  the  Company  situated  on  Loveland  Hill. 
a spur  of  “Buckskin  Joe”  Mountain  in  Park  County,  is  about 
ten  miles  from  Leadville,  and  two  miles  from  the  town  of 
Alma.  It  consists  of  the  following  mines  : 

UPPER, 

BELLA  D., 

G.  W.  KASSLEN, 

CLAYTON. 

CHEESMAN,  and 

HALLACK, 

the  group  containing  in  all  above  60  acres. 

Adjoining,  and  in  the  immediate  vicinity,  are  the  following 
mines,  which  are  being  developed,  and  are  now  producing 
large  quantities  of  very  rich  ore.  Among  them  will  be 
found  the 

FANNY  BARRETT, 

RED  LION, 

BUCKEYE  STATE, 

SAMARITAN, 

PHILLIPS, 

ORPHAN  BOY. 

MOUNTAIN  LION. 


These  deposits  are  considered  by  many  as  among  the 
richest  yet  found  in  the  state  ; which  opinion  will  no  doubt 


11 


be  fully  confirmed  at  an  early  clay  through  further  develop- 
ments now  being  made. 

The  Bald  Mountain  Mining  Company  has  been  organ- 
ized in  the  City  of  New  York  for  the  purpose  of  developing 
and  operating  the  properties  hereinbefore  described,  upon*  all 
of  which  shafts  are  being  sunk  with  very  satisfactory  results. 

The  gentlemen  comprising  the  organization  in  the  City  of 
New  York  are  well  and  favorably  known  to  the  public. 
Their  associates  in  the  West  are  gentlemen  of  high  character, 
and  long  experience  in  the  mining  interests  in  that  section. 

The  valuable  mining  property  acquired  by  this  Company  is 
now  partially  developed.  With  prudent  and  economical  man- 
agement of  its  affairs,  no  enterprise  can  present  stronger  in- 
ducements to  capitalists  for  a safe  and  'profitable  investment , 
than  the  Bald  Mountain  Silver  Mining  Company  of 
Colorado. 

The  agricultural  resources  of  the  State  are  keeping  pace 
with  its  mineral  development,  and  the  facilities  now 
furnished  by  rail,  and  the  abundant  products  of  the  soil, 
give  an  assurance  that  labor  can  be  obtained  in  Colorado  on 
as  favorable  terms  as  in  any  other  part  of  the  United 
States. 

Each  day’s  work  is  an  assurance  that  the  results  antici- 
pated by  the  officers  of  the  Company,  will  be  realized  within 
a reasonable  time. 


LIBRARY 

UNIVERSITY  OF  ILLINOIS 


REPORT 

OF 

Col.  J.  E.  PEYTON,  President. 


New  York,  Dec.  11,  187  . 

To  the  Trustees  of  the 

Bald  Mountain  Mining  Co Neiu  York  : 

Gentlemen, — In  compliance  with  your  request  I have 
visited  the  property  of  the  Company,  situated  in  Park  and 
Lake  Counties,  in  the  State  of  Colorado ; and,  after  as  care- 
ful an  investigation  as  time  and  circumstances  would  admit 
of,  respectfully  submit  the  following  as  my  report : 

I first  visited  the  six  claims  situated  on  “ Buckskin  Joe  ” 
Mountain,  near  the  town  of  Alma , Park  County. 

I found  that  the  shaft  on  the  “ G.  W.  Kasslen  ” had  been 
sunk  to  the  depth  of  44  feet,  at  which  point  low  grade  ore 
was  found,  with  positive  indications  of  an  improvement  in 
quality  as  the  shaft  was  lowered — the  shaft  having  first 
passed  through  strata  of  lime  rock  and  thence  through  por- 
phyry, or  what  seemed  to  be  a species  of  lava,  the  lower 
portion  of  which  is  generally  found  overlying  and  in  contact 
with  the  mineral  in  that  section  of  the  country.  This  is  the 
only  shaft  that  has  been  sunk  upon  the  property,  and  is  dis- 
tant from  the  “ Fanny  Barrett  ” about  2,000  feet. 

These  claims  extend  across  the  spur  of  “ Buckskin  Joe  ” 
Mountain,  on  a range  with  the  “Fanny  Barrett,”  the  latter 
being  situated  nearer  the  summit. 

The  “ Fanny  Barrett  ” is  considered,  by  many  experts 
and  practical  miners,  as  one  of  the  richest  mines  yet  discov- 


14 


erecl  in  that  State.  At  a depth  of  five  feet  from  the  surface 
low  grade  ore  was  discovered.  A shaft  has  been  sunk  upon 
this  property  to  a depth  of  65  feet,  60  feet  of  which  is 
through  mineral,  stated  as  ranging  from  top  to  bottom,  at 
from  30  to  325  ounces  per  ton.  The  thickness  of  the  lode 
has  not  yet  been  ascertained.  Drifts  have  been  made  in 
different  directions  from  the  main  shaft,  at  various  locations, 
extending  from  30  to  40  feet,  with  no  change  in  the  character 
of  the  mineral  from  that  discovered  in  the  shaft. 

I am  justified  in  saying  that  on  comparison,  the  property 
of  your  Company  contains  the  same  metal,  but  to  what  ex- 
tent cannot  be  determined  until  the  shaft  has  been  sunk  to 
a greater  depth.  The  indications  of  the  surface  with  those 
of  the  mineral,  are  that  the  mines  will  be  found  equally  as 
rich  as  the  “ Fanny  Barrett.” 

On  the  north  side  of  the  mountain  the  mines  known  as 
the  “ Buckeye  State,”  “Earnest,”  and  “Phillips”  have 
been  opened;  the  two  former  containing  iron,  silver  and 
galena.  The  latter  adjoins  the  “ Cheesman  ” (one  of  the 
group  of  this  Company’s  mines),  aijd  has  produced  in  the 
upper  strata  above  $c 00,000  in  gold  : the  lower  deposits  con- 
taining iron,  galena  and  silver,  simtlar  to  that  found  in  the 
‘ Fanny  Barrett  ” and  “ Kasslen .” 

On  the  south,  and  nearly  opposite  what  is  termed  in  the 
group  the  “ Upper”,  is  the  “ Good  Samaritan,”  rich  in  min- 
eral same  as  the  “ Buckeye  State  ” and  “ Earnest  ” on  the 
ogposite  side. 

The  “ Orphan  Boy,”  on  the  south  side  of  the  monntain,  is 
near  the  property  of  this  Company,  and  about  on  a range 
with  the  “Phillips,”  the  upper  deposits  gold,  the  lower  sim- 
ilar to  those  of  the  “ Phillips.” 

The  “ Tender  Foot  ” is  a mine  that  is  being  opened  at  the 
foot  of  the  mountain  ; product,  free  gold.  These  gold  de- 


15 


posits  are  evidently  washings  from  the  upper  portion  of  the 
mountain. 

The  six  claims  of  this  Company  at  this  point,  contain  up- 
ward of  sixty  acres,  a large  portion  of  which  is  heavily  tim- 
bered— an  essential  element  in  successful  mining. 

The  town  of  Alma  is  distant  from  these  mines  about  two 
miles,  situated  in  the  heart  of  one  of  the  richest  mineral 
districts  in  the  State  of  Colorado.  It  has  a population  ol 
about  300,  which  is  rapidly  increasing.  The  extent  of  the 
mining  business  in  the  vicinity  will  be  comprehended  by  the 
presence  and  braying  of  the  numerous  donkeys  passing  in 
and  out  of  town,  which  furnish  transportation  for  the  mine- 
ral from  the  mines,  and  supplies  for  the  miners.  I have  rea- 
son to  believe  that  the  town  will  be  supplied  with  railroad 
communication  by  the  middle  of  next  summer,  and  that  a 
smelting  furnace  will  be  erected  in  the  course  of  the  coming 
spring. 

With  these  facts  before  you,  you  can  readily  form  an  ap- 
proximation of  the  value  of  your  property  in  this  locality. 

At  F airplay,  the  county  seat  of  Park  County,  I ex- 
amined the  records  in  the  office  of  the  County  Clerk.  The 
claims  had  been  duly  and  properly  recorded,  with  no  pre- 
vious or  adverse  claimants.  The  title  to  the  property  is 
without  dispute. 

I next  visited  the  “Hercules”  and  “Hazard  ’ mines, 
situated  on  Fryer  Hill,  in  the  vicinity  of  the  town  of  Lead- 
ville,  Lake  County.  The  “ Hazard  ” is  virtually  an  exten- 
sion of  the  “ Little  Chief  ” in  point  of  direction,  and  ad- 
joins the  “ 0 K,”  the  “ Hercules  ” (one  of  the  Company’s 
claims),  and  also  the  “ Carboniferous,”  which  latter  adjoins 
both  of  the  Company’s  claims.  These,  with  other  contig- 
uous mines,  have  been  so  elaborately  reported  upon,  and  are 
so  well  understood  as  to  require  no  statement  from  me  to 
those  who  have  made  themselves  familiar  with  the  district. 


16 


Through  the  courtesy  of  Gen’l  H.  B.  Bearce,  General 
Supt.  of  the  Little  Pittsburg  Consolidated  Mines,  we  were 
permitted  to  descend  the  shaft  and  examine  the  work  done 
by  that  Company,  which,  from  a careful  inspection,  not  only 
shows  thoroughly  systematic  mining,  but  a body  of  mineral 
such  as  has  never  before  been  discovered  in  any  other  part 
of  the  continent.  The  reports  by  the  various  Companies, 
of  this  deposit, seem  fabulous  until  you  are  present  and  real- 
ize the  truth  of  the  statement  by  seeing  it  in  person.  To 
give  an  idea  of  this  deposit,  I adopt  the  following  from  the 
report  of  the  Little  Pittsburg  Consolidated  Mining  Co., 
which  can  be  relied  upon  : 

“ The  pn  sent  development  shoivs  conclusively  that  nearly 
the  entire  ground  covered  by  the  four  properties  is  under- 
laid by  a vein  of  ore  from  4 feet  to  35  feet  in  thickness , av- 
eraging 110  oz.  silver  and,  25  per  cent . lead  to  the  ton. 

u In  numerous  places  large  ore  bodies  have  been  exposed , 
which  assay  from  500  to  1,000  oz.  silver  to  the  ton. 

u It  is  easily  mined  and  reduced , cost  of  mining  being 
about  10  per  cent. 

u The  vein  lies  nearly  horizontal  in  the  earth , at  a depth 
from  60  to  150  feet  below  the  surface , and  varies  from  4 to 
35  feet  in  thickness .” 

The  “ Hercules  ” and  “Hazard  ” contain  a fraction  over 
17  acres,  and  are,  doubtless,  underlaid  by  the  same  deposit 
described  in  the  above  report,  both  as  to  the  thickness  and 
quality. 

The  dip  of  the  “ Little  Chief  ” inclines  in  the  direction 
of  the  “ Hazard,’"  both  in  mine  and  surface,  which  indicates 
that  the  mineral  deposit  will  be  found  thicker  and  richer  as 
we  follow  the  direction  of  the  dip.  This  opinion  is  concurred 
in  by  all  experienced  miners  and  experts,  and,  we  may  say, 
is  confirmed  in  the  sinking  of  the  shaft  on  the  “ Hazard,”  as 


17 


stated  in  the  report  of  Gen’l  Bearce,  which,  with  a recent 
letter  from  that  gentleman,  I submit  as  a part  of  this  report. 

An  engine  has  been  recently  placed  upon  the  property, 
and  the  work  is  being  rapidly  prosecuted  under  the  super- 
intendence of  Gen’l  Bearce,  whose  recent  reports  assure  us 
that  the  indications  are  that  a rich  body  of  mineral  will  be 
reached  at  no  distant  day. 

It  is  generally  conceded  by  all  familiar  with  “ Fryer 
Hill,”  with  whom  I conferred  during  my  brief  stay  at  Lead- 
ville,  that  the  “ Hercules  ” and  “ Hazard  ” will  be  found, 
upon  full  development,  among  the  richest  mines  in  the 
group.  This  fact  no  one  acquainted  with  the  location  seems 
to  doubt. 

The  records  in  the  County  Clerk’s  office  and  the  Land 
Department,  so  far  as  could  be  ascertained  under  a careful 
examination  at  both  places,  show  that  the  title  to  both  the 
“ Hercules  ” and  “ Hazard  ” is  clear.  Gen.  B.  M.  Hughes 
of  Denver,  and  Capt.  S.  P.  Rose  of  Leadville,  who  stand  at 
the  head  of  the  legal  profession  in  that  State,  are  the  attor- 
neys of  the  Company,  and  will  furnish  a brief  of  title  at  an 
early  day  that  can  be  implicitly  relied  upon.  No  other 
claims  to  these  properties  are  recognized  at  the  land  office 
in  Denver.  The  legal  notice  has  been  published  in  due 
form  of  an  application  for  Government  Patents  to  both  prop- 
erties. 

I consider  that  the  title  is  clear  and  distinct  on  the  “ Her- 
cules ” and  “ Hazard,”  the  records  showing  no  defect  in  the 
title  of  either. 

The  property  is  in  the  hands  of  Gen.  Bearce,  who  is  emi- 
inently  qualified  to  take  care  of  your  interests  in  every  re- 
spect. 

In  conclusion  I would  say,  that  in  my  judgment  you  .may 
congratulate  yourselves  upon  having  acquired  a good  title 


18 


to  two  of  tlie  most  valuable  mining  properties,  in  proportion 
to  tlieir  extent,  in  the  State  of  Colorado,  which  statement 
time,  perseverance  and  good  management  will  fully  verify. 

Respectfully  submitted, 

J.  E Peyton. 


(COPY.) 

J.  B.  Chaffee,  Prest.  J.  C.  Wilson,  Manager. 

Geo.  C.  Lyman,  Secy.  H.  B.  Bearce,  Supt. 

LITTLE  PITTSBURG  CONSOLIDATED  MINING  CO. 

Leadville,  Col.,  December  5,  1879. 

Col.  J.  E.  Peyton, 

Dear  Sir: — I have  just  returned  from  a careful  examina- 
tion of  the  underground  workings  of  the  “ Hazard  ” and 
Hercules  ” mines. 

The  prospect  could  not  be  more  flattering  for  a rich  find 
than  they  are.  The  headings  in  both  swells  being  in  as  good 
a body  of  iron  as  has  ever  been  found  on  the  hill.  I am  very 
confident  we  are  near  a large  body  of  ore.  Whether  I can 
strike  it  on  the  present  swell  or  deeper  can  only  be  deter- 
mined by  further  developments,  which  I am  pushing  as  rap- 
idly as  possible. 

Respectfully, 

H.  B.  Bearce. 


